WHY COMPANIES TURN TO DIGITAL MARKETING TO SURVIVE COVID -19 | MMB CONSULTANTS

          

WHY COMPANIES TURN TO DIGITAL MARKETING TO SURVIVE COVID 19 ??

As the country is slowly opening up after close to 10 weeks of complete lockdown, businesses are exploring the best ways to make the future safe for both their employees and customers. People movement and businesses in containment zones will continue to remain restricted. However, the COVID-19 pandemic is a huge problem for companies and it is impossible to ignore the issue. It has changed the way of businesses executed. It is temporary ‘new normal’ and companies have to adapt this for survival of businesses. On one side people are struck at home, isolating themselves and following social distancing.

 Effect of COVID-19 on business: Most businesses like B2B and B2C are suffering, large businesses are losing millions of dollars and some small and medium businesses have to lay-off staff and temporarily shut-down their business while economic uncertainty loom. The only companies that are surviving in this pandemic are that have already incorporated digital strategies into their overall strategy or the ones who have started taking action. The business who have only inbound audience and use referrals and word of mouth have very critical time. B2C businesses rely heavily on physical shops like shopping malls, streets, community market, etc. Today all these areas are completely empty.

  Companies approach towards Digital Marketing: More and more companies are putting their effort in digital marketing, spending more online, creating more digital content and spending in digital technologies. Even some businesses are cutting cost of their marketing budget from other marketing strategies to invest more in digital marketing. So, great opportunities for companies to go digital: There are 2 critical parts of this new paradigm shift:

People are at home
People are online

Marketing is essential to reach potential customers and drive new leads and sales. And since people are stuck at home and spend most of their time on the internet, online marketing is a huge opportunity to reach those customers. B2C businesses like retailers, Fast moving consumer goods (FMCG), electronics, food and beverages outlets and other sellers need to reinvent their marketing strategy and turn to digital marketing to reach their existing customers and attract new customers. Businesses are going to be more reliable on digital strategies in the coming days. Companies need to reinvent their marketing strategy to survive in this period.           

Some Major reasons why companies turn digital:

ü     Companies Need to Adapt: It is necessary for businesses to adapt their marketing strategies to reach customers at right place and right time for minimizing the disruption caused by COVID-19 pandemic. That’s why digital forms of communication are so essential. Future is unknown adapting a smart and responsive strategy helps you to communicate timely and effectively and make you more connected to your customers.

ü    Increase in Social media users amid COVID-19 – Staying at home, quarantine people are spending and bound to spend extra amount of time on social media. People have turned to social media to pass their time.

ü     According to Social distancing measures companies can no longer depend on Traditional events : Some companies even spend their 50-70 per-cent of their annual marketing budget on events and exhibitions and in coming period and scenario such face to face meetings and marketing strategies will not be successful as people will going to avoid public places as much as they can. Such companies need to put their marketing efforts to other channels for continues growth and sustainability.

ü   To keep customers updated- In this critical time it is very crucial to speak to customers and make them updated about the company’s operations and how companies are taking social distancing measures to ensure the safety of their employees and customers .Social media pages are very convenient and helpful , business can share pictures and content about safety measures  taken by businesses for safety of their customers.

ü    Affordable solution –Digital marketing is the most economical way to reach potential customers and do promotions and provide high returns on investment, you can continually evaluate its working and conversions.

ü    Scalable for the new normal – These strategies need to go beyond and prepare you for the world that comes after COVID and the rise of the contact-free economy, aka the “new normal.” Social distancing may have created physical distance but through digital marketing we can stay connected with consumers in a new way. Life doesn’t stop anyway consumers still need groceries, pharmacies ,other valuable items and necessities.

 

                                     ‘BY: SRISHTI RATHORE’

✍🏽 Note :- Please don’t hesitate to get in touch with our team if you would like any advice on how to market your company effectively: you can reach us by at 💪🏽promotion.mmb@gmail.com.Our team is currently operating from home, but we are all working hard to ensure we maintain our clients’ digital presence throughout the coming months.

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